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Oct 9, 2012 4:00am EDT
of a fiscal gap that has to be closed, but progress is being made. so my educated guess is that once the troica report is on the table, they will say whatever the greek government could do it has done and there will probably be time relief somewhere down the road because that's the easiest thing for merkel and others to push through. others have gotten that cou courtesy, why shouldn't others get. >> draghi said we're collectively thinking about issuing minutes from their meeti meetings. long overdue? >> yes, long overdue in a way. but the ecb defense line has always been because we're a young central bank, we're not the bank of england, we're not the fed, we want to keep the pressure out of the governing council and we don't want to have somebody put in the corner and say you voted against your country. we think the greeks are automatically doves and italians and spaniards and austrians and germans are always the hawks. i know for many people it isn't like that in the discussion. we know it's a very clear discussion in terms of omts and bond purchasing. so i think so the timing of pu
Oct 12, 2012 4:00am EDT
. >> so think they're on a pr mission here to educate people or draw attention to this issue because they're worried about the impact it will have on their business. >> absolutely. they're brilliant men and it for jamie dimon to mention a war room and for mr. blankfein to host that event and articulating -- the convexity is phenomenal. if they were to work out a deal and somehow give everybody some visibility for 2013, the up side for the financials is really dramatic. but on the other side of the coin, the payroll tax cut alone, it that goes away that's 1% of disposable income. in my lifetime, you have very rare points in time where 9 consumer can be impacted by gist one point of the fiscal cliff. consumer can be impacted by gist one point of the fiscal cliff. >> so the trouble with obviously it would be great broadly speaking or for markets to let all of these measures -- to kick the can down road, but the flip side of the coin being the risks that that potentially raises or the concern that would raise in circles about the debt levels that we have here in the u.s. >> i've been blogging
Search Results 0 to 1 of about 2